Mar 26, 2012

Per Niche Report ... rather than looking for single-family residences, more Americans are opting for rental deals, and thus the mortgage market for multifamily properties like apartment buildings is heating up.

The rate of American home ownership has fallen to levels not seen since another financial bubble became manifest on Wall Street. In November of 1998, the dot-com bubble was in full swing with the Initial Public Offering (IPO) of the Globe.com, an online social network that failed to attain the stature of Facebook. That IPO made history by allowing lucky investors to realize the most one-day gains ever, and it only took one year for it to collapse. Interest rates at that time were considerably low at that time, and thus home ownership began to edge up in 1998. Mortgage interest rates are even lower today, and yet rates of home ownership are just as low as they were then.